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#465 Tsai Hong-Tu $4.23B

Random fact: Inherited his father's fortune with two brothers in 2004.

Overview

Tsai is chairman of Cathay Financial Holdings, a Taiwanese investment group with more than 13 million customers. The Taipei-based company reported revenue of NT$927 billion ($28.8 billion) in 2016. His father founded Lin-Yuan Group, Cathay's parent, in the 1970s. Tsai and his brothers inherited the fortune in 2004.

As of May 24, 2018:
Last change -$58.2M (-1.4%)
YTD change -$1.09M (-0.0%)
Industry Finance
Biggest asset 2882 TT Equity
Citizenship Taiwan
Age 65
Wealth Inherited
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Tsai Hong-Tu's net worth of $4.23B can buy ...

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troy ounces of gold
0
barrels of crude oil

... and is equivalent to ...

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of the GDP of the United States
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of the total wealth of the 500 richest people in the world
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of the top 100 U.S. college endowments
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of the top 200 U.S. executives’ total awarded compensation
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of U.S. existing home sales
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times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

The majority of Tsai's wealth is derived from the 16 percent stake credited to him in Cathay Financial Holding, a financial investment group with 700 branches and more than 13 million customers, according to the company's website. 

He holds the shares directly and through a series of holding companies, according to the 2016 annual report and a November 2017 stock exchange filing. This analysis attributes shares held by family members in their owns names to the family members. Family-held shares that can't be attributed to individual members are credited to Tsai to reflect his status as chairman.

The value of his cash investments is based on an analysis of inherited cash, calculated dividends, market performance and taxes.

Daniel Teng, a spokesman for Cathay Financial Holding, declined to comment on the net worth calculation.

Biography

Birthdate: 1952
Family: Married, 3 children
Education: Southern Methodist University, PhD, Law

Born in 1952, Tsai Hung-Tu is the second son of Tsai Wan-Lin who was once the richest man in Taiwan. 

Tsai graduated from the law school of the University of Taiwan in 1974 and went to the U.S. for further study. He received a PhD degree from Southern Methodist University in 1978 and obtained his practising certificate the following year.

His father requested he return to Taiwan in 1980 and he became a board member of Cathay Life Insurance at the age of 29. Tsai was promoted to vice chairman of the company four years later and became chairman in 1990.

His father died in 2004, and Tsai shared his father's assets with three brothers.

The billionaires lives in Taiwan with his sons.

Milestones
  • 1952 Born in Taiwan.
  • 1964 Cathay Life became the first insurance company publicly-traded in Taiwan.
  • 2001 Cathay Financial Holding is founded.
  • 2001 Becomes chairman of Cathay Financial Holding.
  • 2005 Cathay Life Insurance begins expanding outside Taiwan.
  • 2014 Acquires U.S. asset management firm Conning Holdings for $240 million.
  • 2015 Alibaba's financial arm acquires stake in Cathay Financial's China business.
  • 2017 Acquires Bank of Nova Scotia Berhad in Malaysia for $255 million.